ECONOMY

Aug 14 08:48

Debt Rattle Aug 12 2014: The Lost Art of Empire

....perhaps help is on its way, from sources that are likely even more unlikely than the cavalry. That is to say, the – right-wing – Daily Telegraph in Britain has started reporting on the dark sides of Ukraine’s government, and our attitude towards the country. Over the weekend, Christopher Booker wrote:

Fresh Evidence Of How The West Lured Ukraine Into Its Orbit

How odd it has been to read all those accounts of Europe sleepwalking into war in the summer of 1914, and how such madness must never happen again, against the background of the most misrepresented major story of 2014 – the gathering crisis between Russia and the West over Ukraine,

For months the West has been demonising President Putin, with figures such as the Prince of Wales and Hillary Clinton comparing him with Hitler, oblivious to the fact that what set this crisis in motion were those recklessly provocative moves to absorb Ukraine into the EU. There was never any way that this drive to suck the original cradle of Russian identity into the Brussels empire was not going to provoke Moscow to react – not least due to the prospect that its only warm-water ports, in Crimea, might soon be taken over by Nato.

Aug 14 08:47

US Officials: Israel Restocked Ammo During Gaza Offensive Without White House Approval

Israel secured supplies of ammunition from the Pentagon last month without the approval of the White House or the State Department, The Wall Street Journal reported Thursday.

Since officials there were caught off guard as they tried to restrain Israel's campaign in Gaza, the administration of President Barack Obama has tightened controls on arms shipments to Israel, the newspaper said, quoting U.S. and Israeli officials.

But the case illustrated that the White House and the State Department had little influence over the government of Prime Minister Benjamin Netanyahu, the paper said, quoting officials from both countries.

Webmaster's Commentary: 

So, Israel is a thief, stealing from the American people, who were forced to pay for all those weapons.

Worse, the White House didn't catch Israel in the theft!

So, what will the US Government do about it?

Nothing!

As usual.

Aug 14 08:24

U.S. retail sales flat in July, autos fall for second straight month

U.S. retail sales were unexpectedly flat in July, pointing to some loss of momentum in the economy early in the third quarter.

The Commerce Department said on Wednesday retail sales, which had increased 0.2 percent in June, were held back by a second straight month of declines in receipts at auto dealers, as well as weak sales of furniture and electronics and appliances.

July's reading was the weakest since January. Economists polled by Reuters had forecast retail sales, which account for a third of consumer spending, increasing 0.2 percent last month.

Webmaster's Commentary: 

FOX News is reporting that there has been a surge in new unemployment claims, yet insists that the jobless numbers remain at "pre-recession levels" (just months away from the mid-term elections).

Aug 14 08:18

St. Louis alderman says police pulled him out of car at Ferguson protest

The local business leaders have had it with the cops!

FERGUSON • St. Louis Alderman Antonio French emerged Thursday morning from a night in jail after his arrest at the Ferguson protests to say that the police officers' "heavy-handed" approach on the streets is making the situation worse.Business, civic leaders decry unrest in Ferguson

St. Louis business leaders are denouncing violence and police actions in Ferguson following the fatal shooting of 18-year-old Michael Brown last Saturday.

Chris Sommers, owner of the Pi Pizzeria chain in St. Louis, also has been active on social media throughout the week, mostly retweeting news accounts of the unfolding events in Ferguson on his Twitter account, @sommerscm, to his more than 800 followers. Sommers said the protests following Brown's death have been mishandled by authorities. “It's devastating to our town,”

Aug 14 07:10

Mississippi taxpayers could be on the hook for $69 million loan to KiOR

Biofuel manufacturer KiOR’s financial struggles might leave Mississippi holding the title to another failed green energy project.

According to the company’s quarterly report, KiOR, without additional financing, won’t be able to meet its financial obligations past Sept. 30.

Webmaster's Commentary: 

These green energy projects are often set up intentionally to fail, to convince the world they need to remain dependent on the oil and gas companies. But even though the projects fail and the losses are them dumped on the taxpayer, the cronies and donors who run the projects personally profit from them.

Aug 14 06:49

Why Do They Hate Us?

For ages have been trying to destroy us, but we stood firm and we fought back, proudly. They invaded, ruined, burned our lands, and they murdered the people of Russia, of China and of the entire part of the world, now called Latin America. They, of course, also murdered and destroyed tens or hundreds of millions of people in the Middle East, in Africa, Asia and Oceania.

When I say ‘they’, I mean the West, and once again I refuse to make any distinction between the old colonial devils, Europe, and the new ones that come from the same roots, the same ‘culture’, but kill under the shade of their relatively new flags.

They hate us because we bled and cried over our dead, but we never gave up the struggle.

Aug 14 06:24

14 Reasons Why The U.S. Economy’s Bubble Of False Prosperity May Be About To Burst

Did you know that a major event just happened in the financial markets that we have not seen since the financial crisis of 2008? If you rely on the mainstream media for your news, you probably didn’t even hear about it. Just prior to the last stock market crash, a massive amount of money was pulled out of junk bonds. Now it is happening again.

Aug 14 04:57

Job = Just Over Broke

If you are fortunate enough to have a job in America today, the phrase "just over broke" probably describes you. Yes, there are a handful of jobs that certainly pay very well, but most Americans that work for somebody else are just barely making it from month to month. More than half of all working Americans are living paycheck to paycheck, and more than half of all working Americans make less than $30,000 a year. Something has gone horribly wrong, and yet our leaders just keep telling us how wonderful our economy is.

Aug 14 04:49

Russia’s food embargo making EU squeal even louder

Austria is warning of catastrophic falling prices, and the Netherlands is saying losses could be triple initial estimates. A third of Lithuanian milk producers say they are facing problems.

The wholesale price of a kilogram of fruit or vegetables could halve due to excess supply, the Austrian newspaper Salzburger Nachrichten cites Rupert Gsols, a federal coordinator of the Austrian Union of Market Gardeners.

There is a bumper crop of European apples in 2014; around 12 million tons against the normal 10-11 million tons. About 370,000 tons are harvested in Poland.

The economic damage to the Netherlands from the Russian boycott could be triple the original estimate and reach €1.5 billion, Dutch News cites Hans de Boer, the chief of VNO-NCW Dutch employers' organization.

Aug 14 04:37

Cisco cutting 8% of workforce, or 6,000 jobs, in restructuring plan

Cisco Systems delivered quarterly earnings and revenue that surpassed analysts' expectations on Wednesday and posted a smaller-than-expected decline in sales during the quarter.

The technology company also said that it will cut some 6,000 jobs, or about 8 percent of its workforce.

Aug 13 18:41

The mammoth global “free trade” agreement you’ve never heard of

'It is astounding that at a time when we are still reeling from the devastating consequences of reckless financial deregulation, our governments are negotiating further deregulation of the financial sector, solely in the interests of large financial corporations.'

Here's what we know: Fifty countries, including the United States, the EU nations, Australia, Canada, Hong Kong, Japan, Switzerland, Taiwan, and Turkey, have been in TISA talks since 2012. The resulting agreement will set the terms for almost 70 percent of global trade in “services”: everything from banking and construction to telecom and tourism.

The public got its first glimpse of the treaty on June 19, when WikiLeaks published a draft of the agreement's chapter on financial services. It wasn't pretty.

READ FULL ARTICLE: http://inthesetimes.com/article/17065/tisa_tpp_and_ttip

Aug 13 18:27

Cry for Argentina: Fiscal Mismanagement, Odious Debt or Pillage?

Ellen Brown
Activist Post

Argentina has now taken the US to The Hague for blocking the country’s 2005 settlement with the bulk of its creditors. The issue underscores the need for an international mechanism for nations to go bankrupt. Better yet would be a sustainable global monetary scheme that avoids the need for sovereign bankruptcy.

Argentina was the richest country in Latin America before decades of neoliberal and IMF-imposed economic policies drowned it in debt. A severe crisis in 2001 plunged it into the largest sovereign debt default in history. In 2005, it renegotiated its debt with most of its creditors at a 70% “haircut.” But the opportunist “vulture funds,” which had bought Argentine debt at distressed prices, held out for 100 cents on the dollar...

Aug 13 18:21

Financial meltdown threatened by bankruptcy of any Wall Street bank

The US Federal Deposit Insurance Corporation (FDIC), in conjunction with the Federal Reserve, announced last week that the major banks had failed to demonstrate that their bankruptcy would not precipitate an all-out financial crisis.

Aug 13 17:12

HSBC cancels account of carpet shop after after it purchases 3 carpets from Iranian businessman

(and it didn't help that the name of the carpet shop was Persian Carpet Studio)

After writing to his MP, Tim Yeo, he received a letter from the Treasury which confirmed the shop was 'perfectly in order to sell Persian carpets'.

He added: 'It said we never ever tried to send any money to Iran. We are not breaking any sanctions. The business was perfectly legitimate.'

He has accused the bank of being frightened of a US treasury department who are handing fines to banks linked to sanction- breaking or money laundering activities.

He went on: 'All our banks are so frightened of what the US Treasury department is doing to them, that they are running around like headless chickens and closing down anything to do with Iranian connections.

'Our Government is not doing anything to protect our banking industry. I think the US Treasury is trying to decimate the UK banking industry for their own gain.'

Aug 13 16:03

14 Reasons Why The U.S. Economy’s Bubble Of False Prosperity May Be About To Burst

Did you know that a major event just happened in the financial markets that we have not seen since the financial crisis of 2008? If you rely on the mainstream media for your news, you probably didn't even hear about it. Just prior to the last stock market crash, a massive amount of money was pulled out of junk bonds. Now it is happening again.

Aug 13 15:36

14 Reasons Why The U.S. Economy’s Bubble Of False Prosperity May Be About To Burst

Did you know that a major event just happened in the financial markets that we have not seen since the financial crisis of 2008? If you rely on the mainstream media for your news, you probably didn't even hear about it. Just prior to the last stock market crash, a massive amount of money was pulled out of junk bonds. Now it is happening again. In fact, as you will read about below, the market for high yield bonds just experienced "a 6-sigma event". But this is not the only indication that the U.S. economy could be on the verge of very hard times. Retail sales are extremely disappointing, mortgage applications are at a 14 year low and growing geopolitical storms around the world have investors spooked. For a long time now, we have been enjoying a period of relative economic stability even though our underlying economic fundamentals continue to get even worse. Unfortunately, there are now a bunch of signs that this period of relative stability is about to end.

Aug 13 15:33

Financial meltdown threatened by bankruptcy of any Wall Street bank

The US Federal Deposit Insurance Corporation (FDIC), in conjunction with the Federal Reserve, announced last week that the major banks had failed to demonstrate that their bankruptcy would not precipitate an all-out financial crisis.

Under the 2010 Dodd-Frank financial regulatory overhaul, some 130 banks are required to submit so-called “living wills.” These are supposed to document how a bank, in case of bankruptcy, would prevent financial contagion to other banks and a broader financial crisis.

Aug 13 15:27

Russia Sanctions Blowback: Finland's Largest Dairy Lays Off 800, Spain Seeks EU Aid, Poland Complains To WTO

Well that didn't take long. Mere day after Russia announced its ban on Western nation food imports, European countries are scrambling (as we explained why here). Greece has already expressed dismay, but now Spanish officials will meet with EU leaders to discuss offsetting the country’s estimated up to $800 million in food and agriculture losses due to sanctions. Poland is pissed and has complained to the WTO claiming "Russia has broken international law in both its embargo;" and Finland's largest dairy producer has announced 800 layoffs due to the sanctions. When does Europe tell Washington - enough!

Aug 13 15:05

Turkey eyes long-term trade ties with Russia

Turkey is seeking to engage in a long-term trade alliance with Russia after Moscow’s ban on imported Western foods, Turkish Agriculture Minister Mehdi Eker has said.

Saying Turkey has emerged as an alternative to procure banned food products, the minister announced a Russian delegation arrived yesterday in Ankara to hold talks with Turkish authorities to discuss potential trade deals.

Aug 13 13:57

The Flow of Gold and Oil

Aug 13 13:28

The Bond Market: Sending a Signal About Risk

Aug 13 12:48

Eurozone woes deepen as Spain's industry slumps

Hopes for a recovery in the eurozone suffered another blow on Wednesday with figures showing industrial output fell for a second successive month.

Production declined across the 18 eurozone members by an average 0.3%, with a return to growth in France and Italy offset by falls in Ireland and the Netherlands and slow progress in Germany, which struggled to 0.2% growth.

Spain was the worst hit of the currency bloc's major economies with a 0.8% drop in industrial production. It also suffered the sharpest drop in shop prices for five years, undermining Madrid's claim that a rebound in employment last month was a clear indication of the country's return to sustained growth. Spanish consumers have proved reluctant to spend on the high street while unemployment remains at around 25%, forcing shops to offer bigger discounts in July than June.

Aug 13 12:32

Black Swans on Final Approach

There are several potential disasters that could disrupt the financial and political status quo, much like what happened after an Archduke was shot 100 years ago.

Aug 13 12:05

BRICS are drifting away from US and European monetary structures

The BRICS countries (Brazil (EWZ), Russia, India (EPI), China (FXI), and South Africa) are slowly but surely drifting away from the 20th Century monetary and political structures setup by the U.S. (SPY) and Europe (EZU), as characterized by Russia’s G8 membership being revoked in the wake of the events in Crimea. The G7, as it is now known, is at odds with Russia’s Vladimir Putin, but that rift applies to the entire BRICS coalition — a group that seems to be growing stronger and more focused as leader of the Emerging Markets.

Aug 13 11:25

Bears Come Roaring Back

Aug 13 10:36

Largest corporate bonds issued in 2014:

Aug 13 10:25

Ontario women sue Ottawa over compliance with new U.S. banking law

Canada has violated the charter rights of nearly a million Canadians by agreeing to share their financial details with authorities in the United States, two Ontario women allege in a new lawsuit.

Gwen Deegan of Toronto and Ginny Hillis of Windsor, Ont., have launched a claim against the Attorney General of Canada.

Webmaster's Commentary: 

Harper has opened Canada's doors to the IRS!!

Aug 13 10:02

These guys used to issue the world’s reserve currency too

It’s common for the world’s most powerful country to issue a currency that becomes adopted around the world as the standard for international trade.

But whenever that country reaches a point of epic, terminal decline, and especially when it rapidly debases its currency, the rest of the world seeks an alternative.

The US has been enjoying this special privilege for decades now.

The US dollar is the most widely used currency in the world for international trade. Central banks and sovereign governments around the world hold trillions of US dollars.

And while these changes never happen overnight, it’s clear that the dollar is quickly losing this status.

The French Finance Minister recently called for a ‘rebalancing’ of currencies in global trade settlement. The British, French, Canadians, and Swiss are all on board with this trend.

Aug 13 09:24

CDS Return Renews Derivative Risk Concerns

They are doing it again!!!

Aug 13 09:23

Confidence in German economy falters as Russia sanctions take their toll

Economists fear eurozone recovery may be derailed after German ZEW indicator plunges to 20-month low

Aug 13 08:40

Only 36% of Americans Under 35 Own a Home

Aug 13 08:34

Left to rot: Detroit’s 40,000 abandoned and empty buildings awaiting demolition as decaying city nears bankruptcy

These eerie pictures shows some of the nearly 40,000 abandoned or empty buildings in Detroit, as they wait to be either demolished or renovated as the city nears the completion of its bankruptcy proceedings.

Thousands of shops, homes and offices sit empty and rotting on Detroit's streets, as well as two beautiful former synagogues - one of which had become a theatre.

Many of the dilapidated buildings are now covered with graffiti, while others are boarded up, with the sad signs of once bustling local stores fading in the sun.

Webmaster's Commentary: 

Any time anyone points to the soaring stock market as proof the economy is fine, show them these pictures.

Aug 13 06:56

Japanese GDP Plunges 6.8% As Consumer Spending Collapses By Most On Record

Compared to the 3.6% drop in GDP when Japan last hiked its consumption tax in 1997, today's Q2 GDP collapse of 6.8% annualized is an utter disaster (even if it is slightly better than the expected -7.0% expectations thanks to a surge in the deflator). Inventory additions added 1.0% growth. Consumer Spending collapsed 5.2% QoQ - the most on record.

Aug 13 06:56

L.A. Faces $15 Billion Bill as Pipes Spring Leaks: Cities

Los Angeles is showing its age, and city officials don’t have plans for financing the facelift.

From buckling sidewalks to potholed thoroughfares to storm drains that can’t handle a little rain, the infrastructure that holds the second-largest U.S. city together is suffering from years of deferred maintenance. Bringing pipes that deliver water to 3.9 million people up to snuff could cost $4 billion -- more than half the city’s annual operating budget. The bill for repaving streets will be almost that much, according to estimates from a city consultant, and patching or replacing cracked sidewalks will require $640 million.

Aug 13 04:48

Bitcoin Battles Fiat Federal Reserve Currency

Aug 13 02:42

Boycott Israel: Now More Than Ever

It bears repeating. Committed ordinary people can make a difference. It’s the only way constructive change is possible. Bottom up alone works. Never top down. Israel’s day of reckoning awaits.

For many decades, Israel waged genocidal war against millions of defenseless Palestinians with impunity.

Accountability is long overdue. High crimes against peace were committed. Culpable Israeli officials must be punished to the full extent of the law.

The global boycott, divestment and sanctions movement for freedom, justice and equality works. Applying them with stepped up teeth more than ever is vital.

Aug 12 20:10

A “lost year” for Washington, DC economy

The Washington, DC region has reported record lows in job growth for the past year. According to figures released in July by the US Labor Department, the Washington, DC area added only 6,000 jobs from May 2013 to May 2014. This is down from 38,300 jobs added in the preceding twelve month period.

The backbone of the DC jobs market, the Federal government and its contractors, lost over 14,000 jobs in this timespan, including 10,300 government and 4,000 professional services jobs. The unemployment rate for the area rose in May from 4.8 percent to 5 percent. The only growth experienced was that in the hospitality sector, which are primarily low-paying, part-time jobs without benefits.

Aug 12 20:06

LNG Won't Save Europe

The Russians are waiting for old man winter to win this one for them!

If the United States uses 7.6 Tcf of its natural gas to supply Europe, it will not have enough natural gas to meets its domestic requirements. Indeed this past winter witnessed the U.S. stored reserves of natural gas fall to a low of 800 billion cubic feet. If the United States had shipped all of that stored gas to Europe (a fifty-day supply for Europe), pilot lights all over the United States would have gone out, as the stored gas pressurizes the domestic natural gas delivery system. Without that pressure, gas-reliant industry, including more than 30 percent of domestic electricity production, would stop.

But what about all of the new shale gas from fracking coming online?

Aug 12 19:28

Raising Cash in Times of Turmoil

Aug 12 18:41

The Coming Economic Reset — Fabian Calvo

Aug 12 18:22

If You Are Fortunate Enough To Have A Job In America Today, The Phrase "Just Over Broke" Probably Describes You

If you are fortunate enough to have a job in America today, the phrase "just over broke" probably describes you. Yes, there are a handful of jobs that certainly pay very well, but most Americans that work for somebody else are just barely making it from month to month. More than half of all working Americans are living paycheck to paycheck, and more than half of all working Americans make less than $30,000 a year. That is an amazing statistic but it is actually true. Once upon a time, anyone that was responsible and that was willing to work hard could get a good job in America. But now those days are long gone. Instead, we live at a time when good jobs are disappearing and when the middle class is getting smaller with each passing year. In some homes, the husband and the wife are both working multiple jobs and they can still barely pay their bills. Something has gone horribly wrong, and yet our leaders just keep telling us how wonderful our economy is.

Aug 12 17:59

Robin Williams had ‘serious money troubles’ after $30 million divorce bills and was ‘depressed’ his TV show had been axed

A source told how Williams had ‘serious money troubles’ and was left racked with depression after his CBS show, The Crazy Ones, was axed in May
Just weeks later he went back to rehab for a ‘fine-tune’ after a decades-long battle with alcohol and drug addiction
His Napa Valley ranch – nicknamed Villa of Smiles – is still on the market for $29.9 million two years after the Oscar winner tried to sell it for $35 million. He said he couldn’t afford it anymore
Williams was forced to pay out $30 million in divorce settlements to his two former wives
He told TV executives it was ‘nice to have a job where the checks will clear’

http://www.dailymail.co.uk/news/article-2722891/Robin-Williams-wrestle...

Aug 12 17:34

Russia, China Agree on More Trade Currency Swaps to Bypass Dollar

The Russian and Chinese central banks have agreed on a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments.

“The draft document between the Central Bank of Russia and the People’s Bank of China on national currency swaps has been agreed by the parties,” and is at the stage of formal approval procedures, ITAR-TASS quotes the Russian regulator’s office on Thursday.

Currently, over 75 percent of payments in Russia-China trade settlements are made in US dollars

Aug 12 17:26

Spain seeks EU compensation over Russian food ban

Spain will meet with EU officials Thursday to discuss offsetting the country’s estimated €337 million in food and agriculture losses due to blocked access to the Russian market.

Aug 12 17:00

The U.S. Plans To Bail-In The Banks – Federal Reserve Vice Chairman

"As part of this approach, the United States is preparing a proposal to require systemically important banks to issue bail-inable long-term debt that will enable insolvent banks to recapitalize themselves in resolution without calling on government funding--this cushion is known as a "gone concern" buffer."

Aug 12 16:24

Marc Faber - Bonds Indicate Weak Recovery

Aug 12 15:17

Economic damage from Russian boycott could be triple original estimate

The economic damage from the Russian boycott of Dutch food products could reach €1.5bn, Dutch employers' organisation VNO-NCW chief Hans de Boer said on Tuesday.

Last Thursday Russia announced a ban on the import of fruit, vegetables, meat, fish and dairy products from countries which support the sanctions imposed on the country by the EU and US.

Earlier calculations of the damage were €500m but De Boer said this is too optimistic. 'That calculation did not take into account the Dutch dealers who operate from eastern Europe,' he told broadcaster Nos.

Aug 12 15:08

U.S. Bank Profits Near Record Levels

Banks are lending to companies and individuals at the fastest pace since the financial crisis, helping propel profits to near-record levels.

Aug 12 13:44

Polish Ambassador’s #FreedomApples Appeal

Webmaster's Commentary: 

You should read the comments on this!

Mine is: This flood of produce into the US to save Europe will create a surplus, riving down prices. That will be good for the US consumer but will destroy our domestic producers of those same items, who will be unable to pay the mortgages on their farms and orchards, setting them up to have their properties foreclosed on by the bankers.

Aug 12 12:51

Gold and Silver: What the IRS Needs to Know About Your Investments (And What They Don’t)

With gold and silver becoming a popular asset class for investors in recent years many buyers of precious metals may be wondering what they should or should not report to the Internal Revenue Service.

Aug 12 12:38

Mexico On The Verge Of Tying Its Currency To Silver

James DiGeorgia: Could we soon see a south-of-the-border silver standard?

According to a good number of precious metals dealers, brokers and silver mining interests, Mexico may be on the verge of tying its currency to silver.

Advocates making the case to tie the Mexican peso back to silver claim it will be the “silver bullet” that launches Mexico into one of the world’s economic superpowers and drive the price of silver through the roof. Mexico ranks as the 14th-largest economy in the world today.

Webmaster's Commentary: 

"What?!? After we took in all those losers and disease ridden kids for them? After we let their cartels sell their products in the US and they do THIS to us!!!! This means WAR!!!" -- Official White Horse Souse

Aug 12 10:20

France Looking at Supplying Iraqi Kurds With Arms

France, in consultation with its EU partners, is looking at supplying arms to Iraq’s Kurds to fight against Islamic State jihadists, Foreign Minister Laurent Fabius said Sunday.

“One way or another, they must receive, in a sure way, equipment that will allow them to defend themselves and to counterattack,” Fabius told France 2 television from Arbil, the capital of the autonomous Kurdistan region in northern Iraq.

“We will look into that over the coming days but in liaison with the Europeans,” he said from the city, which is not far from the IS frontline.

France and Britain have pledged support for a US-led operation helping Iraqi civilians — many of them from the Yazidi minority — who are fleeing a murderous advance by Islamic State (IS) militants

Webmaster's Commentary: 

Were I a Las Vegas bookie, I would not bet against this happening.

This is, after all, about the oil, and in what country's currencies this oil will be sold.

All of this RPT (responsibility to protect) talk, just as we heard when Gaddafi was overthrown in Libya, is just the same, grade-A bovine excrement as we were getting back then.

And I am having an industrial strength, palm-to-forhead moment, at velocity, upon reading this.

The motivation is not humanitarian; had it been, the US never, ever would have gone into Iraq in the first place. The motivation here is purely economic.

Would that SOMEONE in the US federal government had the male attributes to be telling the truth regarding this reinvasion of Iraq; but none do, so what we get is a complete lie for the real reason we are back in Iraq.

Aug 12 10:09

The De-industrialization of America

Paul Craig Roberts and US Senator Charles Schumer published a jointly written article on the op-ed page of the New York Times titled “Second Thoughts on Free Trade.” The article pointed out that the US had entered a new economic era in which American workers face “direct global competition at almost every job level–from the machinist to the software engineer to the Wall Street analyst. Any worker whose job does not require daily face-to-face interaction is now in jeopardy of being replaced by a lower-paid equally skilled worker thousands of miles away. American jobs are being lost not to competition from foreign companies, but to multinational corporations that are cutting costs by shifting operations to low-wage countries.” Roberts and Schumer challenged the correctness of economists’ views that jobs off-shoring was merely the operation of mutually beneficial free trade, about which no concerns were warranted.

Webmaster's Commentary: 

The continuous offshoring/outsourcing of American jobs is no accident.

And that is because the government no longer represents We the People, but only the corporations which fund their election cycles.

Americans have become irrelevant and and expendable to the ruling class, save for paying taxes, and obeying whatever dictates they decree with sheep-like, slavish precision.

No matter who we vote for or how frequently we participate in the process, the fix is already in; corporations get the governments they want which will be exclusively supportive of their interests, no matter if those interests are in direct contradiction to the needs and desires of working Americans.

Aug 12 10:05

Jews Boast of Owning Hollywood—But Slam Gentiles Who Say the Same

As a proud Jew, I want America to know about our accomplishment. Yes, we control Hollywood.

Aug 12 08:40

Is China Hiding Their Tracks On Gold Imports?

But is China’s hunger for gold really falling down?

Let’s examine another chart which was created recently by gold analyst Koos Jansen from In Gold We Trust and released on BullionStar.

The chart shows that total imports to China in the first half of 2014 are already as high as total imports in 2013.

Moreover, official Chinese gold reserves have increased compared to a year ago.

Aug 12 06:55

Coordinated Collapse

Aug 12 04:39

Four UK nuclear reactors forced to shut down in safety alert

Four nuclear reactors are to be closed temporarily following a safety alert.

The need to investigate a fault in a boiler system means that the reactors will be out of action for around eight weeks.

Two reactors at Heysham, Lancashire, and two at Hartlepool, County Durham, will close tomorrow, according to French energy giant EDF.

Two reactors at Heysham, Lancashire will close tomorrow so a fault in a boiler system can be investigated, according to French energy giant EDF

Together the four units serve three million homes, supplying 10 per cent of Britain’s nuclear power.

Aug 11 20:37

Eric Margolis: What If There's a Real War in Ukraine?

Russia and the West are at war – over fruits, veggies, pork and bank loans. The cause is Ukraine, a vast emptiness formerly unknown to the western world, but now deemed a vital national security interest worthy of a risking a very scary war.

Economic embargos such as those launched by the US against Russia may seem relatively harmless. They are not. Trade sanctions are a form of strategic warfare that is sometimes followed by bullets and shells.

Think, for good example, of the 1940 US embargo against Japan that led Tokyo’s fateful decision to go to war rather than face slow, economic strangulation. How many Americans know that President Roosevelt closed the Panama Canal to Japanese shipping to enforce demands that Tokyo get out of Manchuria and China?

Aug 11 20:13

Why the F-35 has been buried in a black hole

Somewhere in Ottawa, unknown to the outside world, there is a black hole -- a secret place where the government consigns toxic ideas, ideas that it dares not implement, yet cannot bring itself to kill.

The F-35 fighter jet is one such idea. The Harper government has been grappling with it ever since it took office in 2006. It has heard from experts that the super-sophisticated F-35 is not the right plane; that it does not suit Canada's modest military requirements; that its single engine makes it too dangerous for patrols across the country's vast distances; and that its humongous cost -- $45 billion or more for 65 aircraft -- puts it well beyond the reach of the budget-conscious Conservatives.

Aug 11 19:22

Canada Has Sold Millions in Military-Grade Hardware to Israel

The shock and awe of Israeli military technology might be happening thousands of miles from North America, in Gaza, but Canadians shouldn’t feel too left out. A government report shows some of that military hardware could very well be Canadian made.

Aug 11 19:18

Fed Official Warns ‘Disappointing’ Growth Could Foretell Future

Sounding a somber note even as the economic outlook in the United States brightens, the Federal Reserve’s No. 2 official acknowledged on Monday that global growth had been “disappointing” and warned of fundamental headwinds that might temper future gains.

Aug 11 18:26

The Perilous Psychology of Financial Bubbles

Aug 11 18:01

Ukraine Considers Restricting Russian Gas Deliveries To Europe

Ukraine is planning to impose sanctions on Russia that might include an effort to starve its larger and richer neighbor of income by stopping the flow of Russian gas through Ukraine to customers in Western Europe.

Ukrainian Prime Minister Arseniy Yatsenyuk told reporters on Aug. 8 that his government is proposing sanctions against 172 citizens from Russia and other countries, as well as 65 Russian companies “for financing terrorism” by supporting the efforts of Russian separatists in eastern Ukraine.

Aug 11 17:44

Shadow Banking: 2,061 of Citigroup’s “Subsidiaries” Go Missing

Meet the new, slimmed down, less complex, more manageable Citigroup. Or not.

Figuring out what Citigroup owns and what it has sold is getting harder by the day as a vast number of its subsidiaries in the 160 countries in which it operates have up and vanished from its public filings but do not actually appear to have been sold in many cases.

Aug 11 17:41

Why Iceland Should Be In The News, But Is Not

Some readers will remember that Iceland’s ninth century agrarian collapse was featured in Jared Diamond’s book by the same name. Today, that country is recovering from its financial collapse in ways just the opposite of those generally considered unavoidable, as confirmed yesterday by the new head of the IMF, Christine Lagarde to Fareed Zakaria. The people of Greece have been told that the privatization of their public sector is the only solution. And those of Italy, Spain and Portugal are facing the same threat.

They should look to Iceland. Refusing to bow to foreign interests, that small country stated loud and clear that the people are sovereign.

That’s why it is not in the news anymore.

Aug 11 17:25

Judges Watching as Foreclosure Mill Attorneys Threaten Deposition Videographer.

Monday, August 11, 2014

KingCast and Mortgage Movies See Judges Watch as Foreclosure Mill Attorneys Threaten Depo Videographer with Security and Arrest.

Note: High-paid lawyers engaging in conduct antithetical to the First Amendment and Fourth Estate. From my FB entry: Yep Robert, and they sit there and do it even though they know my background as a lawyer. Notice how McIntosh has no answer when I smoke him on the licensee issue. Zip. Zero. Zilch. For those who don't know the differences: http://www.cga.ct.gov/2002/rpt/2002-R-0365.htm

Aug 11 17:16

The Wall Street Hype Machine Suddenly Breaks Down

The stock manipulation game on Wall Street has been honed to perfection. Everyone is playing along with it, has to play along with it as part of their job, whether on Wall Street or in the financial media, and it must not be doubted or disparaged in any way. Best of all, it works.

Or rather, it did work. Because now suddenly, the system is inexplicably broken.

Wall Street analysts issue sky-high earnings growth expectations for distant quarters, based on pro-forma, ex-bad-items, adjusted earnings for the companies they follow. These earnings growth expectations are then bandied about to drive up the stock. Hapless souls who dare to point at reality as measured by GAAP-based financial statements are ridiculed; you don’t want to be backward-looking; oh no, you want to be forward-looking. And since no one knows the future, they just make it up.

Aug 11 17:02

Market valuation: "yet more expensive"

Aug 11 16:47

Peter Schiff Calls it Quits

Aug 11 14:32

Washington Threatens The World — Paul Craig Roberts

The consequence of Washington’s reckless and irresponsible political and military interventions in Iraq, Libya, and Syria has been to unleash evil. The various sects that lived in peace under the rule of Saddam Hussein, Gaddafi, and Assad are butchering one another, and a new group, ISIS, is in the process of creating a new state out of parts of Iraq and Syria.

The turmoil brought into the Middle East by the Bush and Obama regimes has meant death and displacement for millions and untold future deaths. As I write 40,000 Iraqis are stranded on a mountain top without water awaiting death at the hands of ISIS, a creation of US meddling.

Aug 11 10:12

SEC files securities fraud charges against state of Kansas over muni bonds and pension liabilities

Securities regulators have filed fraud charges against the state of Kansas Monday, alleging bond offering documents failed to disclose the risks to investors from the state's underfunded pension system.

Webmaster's Commentary: 

What a shame the SEC hadn't been doing its job back when the malt-down of the 2008 Mortgage-backed securities fraud defunded those pensions!

Aug 11 09:35

2,061 of Citigroup’s Subsidiaries Go Missing

Meet the new, slimmed down, less complex, more manageable Citigroup. Or not.

Figuring out what Citigroup owns and what it has sold is getting harder by the day as a vast number of its subsidiaries in the 160 countries in which it operates have up and vanished from its public filings but do not actually appear to have been sold in many cases.

Webmaster's Commentary: 

Shell corporations?

Aug 11 09:31

The Economic Blow... There Is Not Enough Gold To Absorb A Flight From A Currency As Big As The Dollar..

US Russia Nuclear War, Gold and Dollar, Failing Economy and Debt-Economist Dr. Paul Craig Roberts thinks the economy is running on borrowed time. Dr. Roberts says, “Whatever blows, it has to be something the government can’t rig. The only way it could stop means the government can no longer rig it. It is such a huge pile of cards that if they can’t keep it rigged, a lot is coming down in a hurry.” So, what’s going to be the trigger? Roberts thinks it will be when the world abandons the U.S. dollar. How long can the economy be propped up? Dr. Roberts says “It will continue as long as it is tolerated. When will it cease to be tolerated? I think it will be when there is a general flight from the dollar. . . Once the general mood changes, and not just by gold investors, and people cease to hold dollars, then this won’t work. It will fail, and at that time, it will be almost impossible to get into gold.

Aug 10 15:42

Poland asks US to buy apples banned by Russia

Poland has asked the US to purchase the country's apples after Moscow banned all food imports from the EU, the US, and other countries who imposed sanctions on Russia over the Ukraine crisis.

Prior to the full embargo on food exports from the West, Russia’s agricultural watchdog Rosselkhoznadzor banned the import of practically all fruits and vegetables from Poland, citing a breach of food safety standards.

"We are interested in a quick decision because the situation is extraordinary," said Poland's ambassador to Washington, Ryszard Schnepf, as quoted by Polish press agency PAP.

Webmaster's Commentary: 

The sudden surplus of former exports into Russia flooding the US markets will drive prices down, crushing US farmers. I am sure to the money junkies eager to foreclose on these farms, this is a small price to pay to protect the US dollar from the ruble.

Aug 10 15:00

Russian sanctions begin to bite in the Netherlands

The Russian sanctions imposed on Thursday against western countries are already beginning to bite in the Netherlands, Dutch media report on Friday.

The Financieele Dagblad reports that 300 trucks carrying vegetables and fruit have already been refused entry at the Russian border.

The effects are also being felt at the Zaltbommel trade auction where prices are already falling.

Aug 10 14:57

Video: Russia food ban a ‘nightmare’ for French farmers

French food trader Jean Selverro will lose €200 thousand a month because of Russia’s import bans on food from the European Union, announced this week. Normally, 90 percent of his apples and pears are exported to Russia.

Aug 10 08:05

ECB gets ready to pump cash into eurozone as fears rise over recovery

Mario Draghi says preparatory work in place for quantitative easing to combat deflation and economic stagnation

Webmaster's Commentary: 

And we have seen how well quantitative easing has worked here in the US!

Aug 10 08:05

The U.S. Airstrikes in Northern Iraq Are All About Oil

If the Obama administration wanted to prevent the world’s peoples from brutal dictators and repressive regimes or from takeovers by terrorist groups, there are other countries besides Libya and Iraq where it could intervene. What distinguishes these two countries is that they are major oil producers.

Aug 10 07:32

Money Market Account Freeze Passed by SEC

Webmaster's Commentary: 

In the event of "stress", you will not be allowed to withdraw your own money from money market accounts.

Aug 10 07:27

Leaked pictures from the inside bizarre party at the Rothschild family 1972

Webmaster's Commentary: 

Looks like the warn up to the party scene in "Eyes Wide Shut."

Aug 09 20:41

Imposing sanctions on Russia will result in economic heartache for Australia, former ambassador warns

A former Australian ambassador to Moscow and Ukraine says imposing sanctions on Russia will only result in economic heartache for Australia.

Aug 09 17:52

ExxonMobil, Rosneft start joint Arctic drilling in defiance of sanctions

US oil giant ExxonMobil and Russia’s Rosneft will continue joint exploitation of the Russian Arctic despite Western sanctions, the American company said as the two giants launched exploration drilling in the Kara Sea.

Aug 09 17:50

De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement

The last 3 months have seen Russia's "de-dollarization" plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this week, Russia's oligarchs have shifted cash holdings to Hong Kong. But this week, as RT reports, Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments. “"The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China," the Russian regulator said.

Aug 09 09:36

Bildt troubled by Russian food sanctions

Putin is aiming the sanctions at those who imposed sanctions against Russia, namely the 28 EU members, plus Norway, the US, Canada and Australia. The sanctions are against such food items as meat, fish, poultry, dairy, fruit and vegetables.

According to news agency Reuters, the food items Russia imported last year but which are now included in the sanctions amounted to about US$ 23.5 billion, of which about US $32 million came from Sweden.

Putin's decision surprised many because, according to the newspaper European Voice, almost 40 percent of Russia's food imports come from EU countries.

Aug 09 09:16

Stocks In Russian Food Companies Soar Amid Western Food Ban

Shares in some of Russian food producers have added almost 40 percent by midday on Friday. The surge comes a day after Moscow imposed a one-year ban on imports of food products from the West.

Aug 08 14:58

Malaysian Airlines stock trading suspended

Malaysia’s state investment company says it wants to remove struggling Malaysia Airlines from the stock exchange, the Associated Press reports, making it fully state-owned before overhauling its business.

Aug 08 11:24

FLASHBACK - The Tytler Cycle Revisited

"A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship."
“The average age of the world’s greatest civilizations from the beginning of history, has been about 200 years. During those 200 years, these nations always progressed through the following sequence:

From bondage to spiritual faith;
From spiritual faith to great courage;
From courage to liberty;
From liberty to abundance;
From abundance to complacency;
From complacency to apathy;
From apathy to dependence;
From dependence back into bondage

Aug 08 09:27

Gaza Strip: Boycott Israeli Products App Gets 350,000 Supporters

An app that allows users to search for a product linked to targeted companies or countries in order to boycott them has seen a significant surge in users signing up to anti-Israel campaigns.

Buycott catalogues brands and their affiliations and lets users set up campaigns to either help or avoid funding certain causes. By scanning a product's barcode with their smartphone camera, consumers are able to determine which brands are associated with which campaigns.

Aug 08 09:26

'Outrage' Follows USDA's Advancement of New Genetically Engineered Crops

Environmental groups warn that advancing Dow's new genetically engineered crops means a continuation of a toxic chemical treadmill that threatens human health. (Photo: Holley St. Germain)

Watchdog groups are denouncing the U.S. Department of Agriculture's recommendation on Wednesday to approve new varieties of genetically engineered corn and soybeans as a path towards more toxic pesticides that threaten the environment and public health.

"We are outraged," stated Marcia Ishii-Eiteman, PhD, senior scientist with Pesticide Action Network, adding that the "USDA has turned its back on America’s farmers and rural communities."

The new crops are Dow AgroScience’s 2,4-D- and glyphosate-tolerant corn and soybeans. They are made to be used with Dow's Enlist Duo herbicide, which contains 2,4-D and glyphosate and is also under review by the USDA.

Aug 08 08:43

Silver & Gold Dealer IRS Reporting Requirements - INFOGRAPHIC

For those concerned about buying and selling PRIVACY, this information is important.

Given that Silver & Gold Bullion are some of the only remaining assets which can remain truly private... it's important people know the current rules of the game.

Aug 08 07:53

Farmers 'will need EU aid after sanctions'

Minister for Agriculture Andrä Rupprechter (People's Party/ÖVP) has said the European Union should help Austrian farmers who suffer financial losses due to EU sanctions over Russia.

Webmaster's Commentary: 

"No problem, we'll just get the US Government to take a bunch of money from the American people again!"

Aug 08 07:21

Emerging Airline Monopolies Make Air Travel More Expensive In The US

There is a stunning lack of choice today for American consumers, and nowhere is that more evident than our nations ever-shrinking airline industry. In the first half of 2014, the average round-trip ticket to anywhere in the U.S. was over $509.15 including taxes. That is up over $14 from the same period in 2013.

Airfares in general have gone up 10.7 percent in the past five years, even after adjusting for inflation. So what is behind these ever-increasing airfares in the United States? Well, it may have something to do with the stunning lack of competition which is now the reality of the U.S. airline market in the mid 2010?s.

Aug 08 07:19

Russia “already turning away trucks at border”

Catalan producer association Afrucat is urging its members not to send lorries to Russia until the situation regarding the ban on EU imports has been fully clarified, following reports that trucks laden with fruits and vegetables are already being refused entry at border crossings.

Aug 08 07:18

Dear David, Sorry, but Your Money Is Trapped in the USA

Recently, my colleague David Galland had a revealing experience. David attempted to invest abroad but was stymied by the US government’s de facto capital controls.

While there are no official capital controls, the uniquely burdensome regulations associated with doing business with a “US Person” creates a similar effect—that being that the vast majority of foreign banks, brokerages, and other financial institutions shun American clients, effectively making it much more difficult to move capital outside of the US.

IM contributor Jeff Thomas eloquently points out that “If the sheep are to be sheared, they must first be penned in so that they cannot escape.” This is exactly the point of capital controls: to lock in the wealth of a country so it cannot escape the shearing that is soon to come.

Aug 07 15:05

HHS on the hunt for HealthCare.gov emails Issa wants

A senior health department official under Republican scrutiny for the flawed rollout of HealthCare.gov likely deleted some emails now sought by congressional investigators, msnbc has learned.

The Department of Health and Human Services planned on Thursday to alert Congress and the National Archives and Records Administration, which is charged with enforcing federal record keeping laws, about the problem, according to a copy of a letter being sent to Archives.

There is no evidence that Marilyn Tavenner, an Obama appointee who leads the Centers for Medicare & Medicaid Services, intentionally hid information or deleted records; rather, the gaps appear to be the result of sloppy record keeping. But Republicans have attempted to turn missing emails into a political scandal before, as they did with Lois Lerner, a former IRS official at the center of a separate controversy over alleged targeting of conservative nonprofit groups.

Aug 07 14:17

European stocks fall on Russia

Europe's main stock markets fell, weighed down by concerns of escalating tensions between the West and Russia, after the ECB left its monetary policy unchanged.

Frankfurt's main DAX index dropped 1.0 per cent to 9,038.97 points, while in Paris the CAC 40 tumbled 1.36 per cent at 4,149.83 points, compared with Wednesday's close.

London's benchmark FTSE 100 index shed 0.58 per cent to 6,597.37 points after the Bank of England also chose to hold its key interest rate at a record low.

Aug 07 12:38

Russian Food Ban sends Livestock Futures Reeling

Russia has announced a retaliatory ban on food products from nations supporting the sanctions that were imposed on it in response to the ongoing events in Ukraine.

Personally the food ban is going to do nothing except to hurt their own citizens by driving up the cost of food there but it has just knocked a huge chunk of profitability out of the pockets of US livestock producers.

Webmaster's Commentary: 

I rather doubt Russia will have any problem obtaining plenty of (GMO free) food from their BRICS partners.

Aug 07 12:11

FLASHBACK - Judea Declares War on Germany


Click for larger image

Webmaster's Commentary: 

Posted at reader request: Today Israel is screaming about how "unfair" the Boycott, Divest, and Sanctions movement is to "poor suffering Israel" (reg Trademark Tel Aviv). but history shows that the same people have never hesitated to use boycotts against others, as this newspaper from 1933 shows.

Following their defeat in WW1, Germany had been forced to accept a privately-owned central bank under the Treaty of Versailles. This privately-owned bank looted the German people and eventually led to the runaway inflation of the Wiemar Republic. When Hitler came to power he kicked out the private central bankers and returned control of the currency to the government. This triggered an economic boom in Germany which would later be described as the "German Miracle" and lead to TIME Magazine making Hitler their Man of the Year for the amazing economic changes he had brought to Germany.

Those changes, of course, were a direct threat to the private central banks, both because citizens in other countries wondered why they could not have the same system of government-issued currency that was working so well for Germany (especially here in the United States, which had been started a with government-issued currency), and because nations enslaved to private central banks cannot economically compete with nations not so encumbered and plundered.

So, the cartel of private central bankers organized a global boycott against the new German monetary system almost the moment it was born, to ruin Germany and drive it back into the clutches of the private central bankers. It was this economic war that set the stage for the emergence of WW2, while the financial predations of the Rothschilds bankers became the foundation of the German peoples' animosity towards Jews.

As a side note, the article gives the total Jewish population of Germany as just over half a million, quite a far cry from the claimed six million supposedly exterminated by the Nazis.

Aug 07 11:37

Duggan to unveil new plan to collect unpaid water bills

Detroit Mayor Mike Duggan today will announce a new plan to address thousands of unpaid water bills after previous efforts to collect debt by shutting off service to delinquent customers sparked widespread criticism.

Duggan and water director Sue McCormick will appear at a 12:30 p.m. press conference at city hall to share details of a 10-point plan to make sure residents have the chance to bring their unpaid bills up to date.

Webmaster's Commentary: 

"Our corporate masters have agreed to provide loans at modest interest rates to get your water turned on again!"

Aug 07 10:06

Gold Jumps As Ukrainian Fighter-Jet Shot Down Over Donetsk

Gold futures broke above $1315 as a double whammy of NATO threats and Ukraine headlines spark safe-haven buying:

*FIGHTER JET SHOT DOWN OVER REBEL-HELD EAST UKRAINE: AFP

Aug 07 07:17

Shoppers Use App To Boycott Israel In Grocery Store Aisles

Today, more than a year since the app first gained ground, Buycott’s fastest-growing campaigns are those allowing shoppers to avoid products deemed to support Israel.

As the Israel-Gaza conflict has intensified in recent days, Buycott has seen a surge in users joining groups with names like ‘Avoid Israeli Settlement Products’ and ‘Long Live Palestine Boycott Israel.’

The latter was created in April by a British teenager, but floundered with a few hundred members through mid-July. It now counts over 220,000 shoppers as users, with its numbers climbing daily.

Webmaster's Commentary: 

GOOD!!!

Aug 07 07:05

Australia's Unemployment Rate Suddenly Surged To A 12-Year High

Australia’s unemployment rate has surged to a 12-year high of 6.4%, the Aussie dollar dropped to 0.9290, and the twitterverse has had a raft of hand wringing over such a big jump, though the reality is not as bad as the headline number looks.

This is an important message to focus on because 6.4%, the highest rate in more than a decade, is going to scare Australian consumers. It will worry Australian businesses focussed on forward planning – especially those concerned about where buyers will come from.

Aug 06 12:33

Russia Sanctions Accelerate Risk to Dollar Dominance

U.S. and European Union sanctions against Russia threaten to hasten a move away from the dollar that’s been stirring since the global financial crisis.

Aug 06 09:38

Putin Bans Agricultural Imports From Sanctioning Countries For 1 Year – 6 August 2014

A one-year ban has been imposed on certain agricultural produce, foods and raw materials from countries that have sanctioned Russia. A law on economic measures to protect the country’s security has been signed by President Putin.

Aug 06 07:43

Office Depot to close 165 stores this year; settles lawsuit for $80 million

Boca Raton-based Office Depot said Tuesday it would close 165 stores during 2014 — up from the 150 estimated earlier this year — but stuck with a total count of 400 store closures through 2016, the company said.

The office-supply retailer, which merged with OfficeMax last year in a $1.2 billion transaction, said it has completed its analysis of which stores will be closed across the U.S. and Canada. Locally, the retailer has closed two OfficeMax stores, in Coral Springs and Deerfield Beach.

The company also announced on a conference call following its second-quarter earnings announcement that it has settled a California lawsuit for $80 million, which it expects to pay in the fourth quarter.

Aug 06 07:42

4 Million Fewer Jobs: How The BLS Massively Overestimated US Job Creation

To be sure, in a normal, vibrant, growing and most importantly, entrepreneurial economy, incorporating business creation vs business deaths is a perfectly reasonable statistical adjustment to the actual number of underlying jobs via the BLS business sampling that takes place every month.

There is one problem: the Fed's centrally-planned abortion of an "economy", in which the rigged, bubble market is the only leading indicator that everyone focuses on and from which everything else "flows", is anything but normal.

The latest proof of just how broken the economy has become, and serves as a big flashing red question mark about just how massively overestimated job creation is due to a wildly erroneous birth/death estimator, comes from a research report by the Brookings Institution titled: "The Other Aging of America: The Increasing Dominance of Older Firms."

Aug 05 11:04

Stocks Plunge On Russia Invasion Threat - Give Up All Post-Payrolls Gains

Yesterday, the S&P and Nasdaq bounced hard off the pre-payrolls level from Aug 1st. From the moment US cash equity markets closed yesterday, stocks have been dropping back. But now, thanks to this:

SIKORSKI: RUSSIAN UNITS POISED TO PRESSURE OR INVADE UKRAINE
SIKORSKI: RUSSIAN INCURSION WOULD BE HUGE ESCALATION OF CRISIS
SIKORSKI WARNS RUSSIA ON IMPACT OF CONVENTIONAL WAR IN EUROPE

The Dow, S&P and now Nasdaq have tumbled below yesterday's lows, eradicating all the post-payrolls gains in stocks. Treasury yields are tumbling (5bps off highs) and gold and silver and rising.

Aug 05 08:53

The United States' Farm-Grown Terrorism

Let's talk about America's farm-grown terrorism epidemic.

Back on September 11th, nearly 3,000 people lost their lives in the attacks on the World Trade Center, Pentagon, and in Shanksville, Pennsylvania.

Since 9/11, our government has spent over $7.6 trillion on military and homeland security operations in response to the deaths of those roughly 3,000 souls.

Now, compare that to the fact that each year, 23,000 Americans die from antibiotic-resistant infections, and another 2 million get sick.

That's the equivalent of nearly eight 9/11's per year. But our government isn't doing a thing about it.

Webmaster's Commentary: 

OF COURSE, the US government does nothing about this because Big Agriculture and Big Pharmaceutical are two industries which lavish campaign contributions on Congressional representatives, and know precisely what kind of legislation (or the lack thereof) will buy them.

In the 21st century, the US has a government of the corporations, by the corporations, and definitely FOR THE CORPORATIONS.

Individual voters are irrelevant and expendable, because by the time they are elected, Congressional Representatives have been thoroughly vetted in terms of what they will deliver to the companies which have supported them in the election cycles.

Aug 05 07:48

the IRS doesn't want you to see this!

After you listen to Ron Paul and Campaign for Liberty's Attorney, David Warrington, explain the stakes involved in this fight, please sign your "Statement of Support" immediately.

Aug 04 17:45

Spreading Debt and Death

Aug 04 12:36

Ron Paul Warns: The Dollar Collapse is Close

Webmaster's Commentary: 

Hence the rush to a new World War.

Crash of 1907 -> WW1

Crash of 1929 -> WW2

Crash of 2008 -> WW3

Get the picture?

Before the creation of the Federal Reserve, there was no such thing as a world war.

Aug 04 10:43

All of Tennessee’s Employment Growth Since 2000 Has Gone to Immigrants, Yet Natives Accounted for Two-Thirds of Population Growth

The Gang of Eight Senate immigration bill (S.744) passed last June would have roughly doubled the number of new foreign workers allowed into the country and legalized millions of illegal immigrants already in the United States. Both Tennessee senators — Lamar Alexander (R) and Bob Corker (R) — voted for it.

To put into context the possible effects of this legislation on Tennessee, the Center for Immigration Studies has analyzed recent government data on employment. The analysis shows that, since 2000, all of the net increase in the number of working-age (16 to 65) people holding a job in Tennessee has gone to immigrants (legal and illegal). This is the case even though the native-born accounted for 60 percent of the growth in the state’s total working-age population.

Webmaster's Commentary: 

"That's okay; all you working age Americans can just go on down to your local military recruiting office and get a fine job!" -- Official White Horse Souse

Aug 04 10:29

World Trade Organisation's future in doubt after India blocks trade deal

Global agreement collapses as Narendra Modi insists on food subsidy and stockpiling concessions for developing countries

Aug 04 07:38

G-20 Revolt? France Gets "Positive Reception" To Challenge US Bank Fines

In recent weeks France has defied US demands not to build Mistrals for Russia, has questioned dollar imperialism and the Petrodollar, and has blasted the US banking regulator's fines as "accelerating the decline of the dollar." So it is likely not a huge surprise that ahead of the G-20 meeting of world leaders later in the year, The FT reports, France has gathered support to challenge US regulators imposing heavy penalties on foreign banks.

Aug 04 07:16

FACEBOOK STILL BLOCKING POSTS WITH THE URL TO THE YOUTUBE VIDEO OF "ALL WARS ARE BANKERS' WARS."

Aug 03 07:22

Pentagon asks Congress to allocate $19 mln in support of Ukrainian army

Aug 01 09:21

WTO members fail to agree global trade deal

The World Trade Organization says its 160 members have failed to agree a global customs pact drawn up in meetings in Bali last December.

The Trade Facilitation Agreement would have streamlined global customs procedures, and should have been finalised by Thursday.

But it was blocked over a number of rifts, including India's demands for concessions on the stockpiling of food.

The WTO said it had not been possible to find a breakthrough.

Aug 01 09:14

Alle oorlogen zijn bankiersoorlogen

"Bankieren werd bedacht in ongerechtigheid en is geboren in zonde. De Bankiers zijn eigenaar van de Aarde. Neem het van hen weg, maar laat ze de macht om deposito's te maken en in een oogwenk zullen ze genoeg deposito's maken om het weer terug te kopen. Maar, neem het van hen weg en al de fortuinen als de mijne zullen verdwijnen en ze zouden moeten verdwijnen, omdat deze wereld dan een gelukkiger en betere wereld zou zijn om in te wonen, maar als je slaven wilt blijven van de bankiers en betalen voor de kosten van uw eigen slavernij, laat ze door blijven gaan deposito's te creëren."
- Sir Josiah Stamp, president van de Bank van Engeland in de '20 van de vorige eeuw, de tweede rijkste man in Groot-Brittannië

Webmaster's Commentary: 

This is one of the largest and most popular Dutch corporate media websites, which draws millions of visitors every day, and they just linked to the video of "All Wars are Bankers' Wars!" So looks like Facebook's ban was rather pointless.

Aug 01 08:41

RadioShack's days are numbered

Webmaster's Commentary: 

Radio Shack is where I used to go for parts and supplies to build things. That was their strength. But they dropped support for electronics hobbyists and went with the same consumer-level products everyone else is selling, and are now paying the price for forgetting what their original success was based on.

Jul 31 09:48

Russia And India Begin Negotations To Use National Currencies In Settlements, Bypassing Dollar

That is about to change when yesterday the Russian central bank announced that having been increasingly shunned by the west, Russia discussed cooperation with Reserve Bank of India Executive Director Shrikant Padmanabhan. The punchline: India agreed to create a task group to work out a mechanism for using national currencies in settlements. And so another major bilateral arrangement is set up that completely bypasses the dollar.

Jul 31 09:40

Obama's Russian Sanctions take hold - Dow down 200 as stocks end July with a thud

Webmaster's Commentary: 

I have no doubt that the announcement of a 4% growth in GDP was intended to offset the downward pressures from the new sanctions, but with the US Government having lied (and then "revised") that GDP figure so many times, not to mention the obvious frauds in reporting unemployment and inflation, nobody believes that 4% claim.

Jul 31 09:17

Deadbeat Illinois Evicted From Facility: DMV Office Hasn't Paid Rent in 13 Months

For 13 months, the Secretary of States' office refused to pay rent on its Belvidere facility. Due to that non-payment, the Department of Motor Vehicles is being evicted.

Local radio station WIFR spoke with one of the building's landlords, Diana Toft. Toft and her husband own the building on Pearl Street and they say they’re not willing to sign a lease because of the terms offered in it. Toft says the state owes them 13 months of unpaid rent, saying the state hasn’t paid since June 29th, 2013.

Jul 31 09:13

HSBC terminates Gaza-linked Islamic charity’s bank account and others

HSBC has written to an array of UK Islamic charitable organizations to inform them their accounts with the bank will be terminated. One such organization has carried out relief work in crisis-stricken Gaza for over a decade.

In formal letters issued to a think tank, a charity and a North London mosque, HSBC claimed continued provision of its services would counter its “risk appetite".

Family members of a man who runs the think tank have also received similar letters from HSBC. But the multinational bank reportedly offered no explanation for its decision to withdraw its banking services in these cases.

Jul 31 09:11

EU sanctions some of Russia's biggest banks, including #1 Sberbank

The European Union has imposed sectorial sanctions on five Russian banks, including the country’s biggest, Sberbank, as part of economic steps that Europe, along with the US, have taken against Moscow over the crisis in Ukraine.

The list, published Thursday, includes Sberbank, VTB Bank, Gazprombank, Vnesheconombank (VEB) and Russian Agriculture Bank (Rosselkhozbank).

These financial entities will be banned from raising capital on the EU’s capital markets.

Webmaster's Commentary: 
Jul 31 08:57

Detroit Residents Appeal to United Nations to Save Their Access to Water

The City of Detroit is shutting off water taps for its residents. Yet, corporations are not forced to pay.

Webmaster's Commentary: 

I was hoping that with control of the water system returned to the Mayor, this crisis was over.

Jul 31 08:42

FLASHBACK - JFK Vs The Federal Reserve

It appears obvious that President Kennedy knew the Federal Reserve Notes being used as the purported legal currency were contrary to the Constitution of the United States of America.

"United States Notes" were issued as an interest-free and debt-free currency backed by silver reserves in the U.S. Treasury. We compared a "Federal Reserve Note" issued from the private central bank of the United States (the Federal Reserve Bank a/k/a Federal Reserve System), with a "United States Note" from the U.S. Treasury issued by President Kennedy's Executive Order. They almost look alike, except one says "Federal Reserve Note" on the top while the other says "United States Note". Also, the Federal Reserve Note has a green seal and serial number while the United States Note has a red seal and serial number.

Jul 30 14:18

Argentina placed into ‘default’ rating as debt deal deadline expires

Argentina’s credit rating was downgraded to “selective default” by Standard & Poor’s as the South American country missed Wednesday’s deadline for a grace period during ongoing negotiations with holdout debt holders.

Wednesday is the cutoff for Argentina to make good on a $539 million payment to bondholders, which was placed on hold by a US judge’s order tying that payment to ongoing litigation by vulture funds which refused the country’s original cents-on-the-dollar debt restructuring offer.

Analysts generally do not believe that a default by Argentina will have the same consequences as in 2001.

Jul 30 12:46

Trading to Resume on Moscow Stock Exchange

Trading will begin again on the Moscow Stock Exchange at 5:50 p.m. after stopping abruptly on Wednesday afternoon, the stock exchange said in a statement.

Trading stopped at approximately 3:56 p.m. in Moscow, according to Interfax.

The stock exchange said in an earlier statement that the reasons for the interruption are being investigated.

Webmaster's Commentary: 

Hacking attack to try to shut them down?

Jul 30 09:41

"US Will Feel Tangible Losses," Russia Prepares To Unleash Retaliatory Trade Wars

"It's a troubling continuation/expansion of trade as a geopolitical tool," warns one Washington-based consulting firm as Russia prepares to unleash retaliatory actions to US and European sanctions. As Bloomberg reports, Russia said yesterday it may ban imports of chicken from the U.S. and fruit from Europe and is investigating McDonald's cheese for safety. In addition, a Russian lawmaker has drafted legislation that might result in U.S. accounting firms being barred from doing business in his country. All of this is odd given Jack "trust me" Lew's reassurance that Russian sanctions would have no impact on the US economy. Russia's response, US will feel 'tangible losses' from 'destructive, myopic' sanctions.

As Bloomberg reports, while Russia and the U.S. have long sparred over agricultural trade, the actions fueled speculation they could be retaliatory.

Webmaster's Commentary: 

Gee, ya THINK?!?!?!?

Jul 30 06:10

Swedish banks walk tightrope with sanctions

News agency Reuters reports that the EU has agreed on a sanctions package against Russia, over its role in Ukraine, on Tuesday. The details of the sanctions package will be finalized and released on Wednesday. The sanctions target the finance, defence and energy sectors.

The sanctions are initially set to last one year but a review will take place after three months, to judge their effectiveness. The sanctions were decided to only target future contracts, leaving existing contracts intact, like France's delivery of helicopter carrier warships to Russia.

According to Reuters, one of the sanction with the most impact will ban Europeans from buying new bonds or shares issued by banks owned 50 percent or more by the Russian state.

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